The Yen is testing its strengths. Overview for 12.10.2017

12.10.2017

The USD/JPY pair is falling on Thursday; investors are looking for new trading ideas while the USD is vulnerable.

The Japanese yen is rising against the USD on Thursday afternoon. The current quote for the instrument is 112.25.

The statistics published by Japan in the morning showed that the Bank Lending decreased up to 3% y/y in September after being 3.2% y/y the month before, although it was expected to fall much deeper.  

The PPI in Japan expanded up to 3.0% y/y after being 2.9% y/y in the previous month. This number was expected, so it didn’t attract much of investors’ attention. The components of the report show that export prices increased by 9.4% y/y, the import ones – by 13.5% y/y. The report helps to analyze how the global prices change and how they correlate with the inflation. Taken together, it allows to see whether production expenses rise or fall.

Today’s statistics is not very interesting to the financial world, at least the one that concerns the Yen. The Yen is getting more expensive while the USD is weakening after the Federal Reserve published the minutes of its latest meeting. We can’t say that the minutes revealed something very unpleasant for the USD, but investors responded to possible risks mentioned in the report.

 

RoboForex Analytical Department

 

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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